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Judgment
ORDER
These asse ssee ’s tw in appe als ITA Nos. 3 647 & 3648/De/2026 , for Assessment Years 2013-14 & 2014-15 ar ise against the Commissioner of Income Tax(Appe als)-3 (for short, “CIT (A)”), Gur gaon’s as many orders dated 24.03.2026 & 16.03.2026, passed in order nos. 1025593/NF AC/2012-13 & 10256438/NFAC/2013-14, invo lving proceedings u/s 147 r.w.s. 144B of the Income Tax Act, 1961; hereinafter referred to as, “the Act”, respe ctively.
Heard both the parties. Case files peruse d.
The assessee submits at the outset that it seeks to raise/press for its first and foremost legal ground/argument challenging validity of the impugned twin identical re-openings itself. This is for the precise reason that the learned Assessing Officer had set into motion the same after recording his reasons to believe that going by the relevant material detected in the survey action held on 20.08.2019, it was found to have provided fictitious share application money to/from M/s Rakesh Raj and Associates representing accommodation entry(ies) of Rs. 1,43,32,000/-(A.Y. 2013-14) & Rs. 1,78,57,125/- (A.Y. 2014-15); respectively. Mr. Somil Agarwal next takes us to the learned Assessing Officer’s as many assessments; both framed on 26.05.2023 wherein although he has added the corresponding amounts of Rs. 1,66,32,000/- & Rs. 1,75,57,025/- as unexplained cash credits u/s 68 of the Act, the same admittedly do not involve the aforesaid reopening amounts i.e. fictitious shar application money in case of Rakesh Raj and Associates . This clinching factual position has gone unrebutted from the Revenue side when afforded adequate opportunity of being heard today.
Faced with this situation, we hereby quote ATS Infrastructure Ltd. Vs. ACIT (2024) 166 taxman.com 61 (Delhi), Ranbaxy Laboratory CIT (2011) 335 ITR 136 (Del), PCIT v. Jakhotia Plastics (P.) Ltd. (2018) 94 taxmann.com 89 (Delhi), CIT Vs. Jet Airways (I) Ltd. (2011) 331 ITR 236 (Bom.) & CIT(E) Vs. BP Poddar Foundations for Education (2023) 148 taxmann.com 125 (Cal) to conclude that once the learned Assessing Officer has nowhere made any addition in all these assessment years in the assessee’s hands qua aforesaid sole identical reason of reopening, the same could not be held as sustainable in eyes of law. Quashed in very terms therefore.
All other remaining pleadings between the parties on merits stand rendered academic.
These assessee’s twin appeals ITA Nos. 3647 & 3648/De /2026 are allowed in above terms. A copy of this common order be place d in the respective case files.